A forex trader’s lifestyle. Why does it have to be different from anyone else’s? What does it include? And yeah, what about my lifestyle, you may wonder? 🙂 I can tell you in all honesty, the first time I heard traders talk about lifestyle on You Tube, I wondered, too. Especially, because, well, let’s say, my lifestyle really wasn’t that good to begin with…..;-)
Me – Bad Example or Good Example? Both!
About six months ago I still was a heavy, and I mean a heavy smoker.
I am fortunate to be with my wife, for many reasons, but one of them is her being a great cook. Not only that, she is a doctor and a strong believer in healthy eating and physical exercise. You can imagine how she detested, I mean absolutely abhorred, my smoking habits and well… just simply forgetting to eat during a hectic day. And when I did eat during the day, it would be mostly high sugar, low nutrition based junk food.
As I was saying, the movies on the importance of regular work outs, healthy eating, sleeping, “relax and open your mind to what the market is telling you from a positive winning attitude” and so on and so forth – well it just didn’t click at first. And it took me quite some time to actually understand why this all is so important.
Smoking, or any addiction for that matter, is by definition self destructive. I mean, lets face it, you are killing yourself slowly but surely. Apparently – and that sure held true for me – you don’t give a flying f*** or at least not enough to wake up and realize or accept what you are doing to yourself. Without going too deep into the psychology of it, this is part of your overall mindset; in this case your self destructive mindset – click on this link if you are interested in the effects of addiction.
Your Best Interest
In the Forex market, or on any financial market for that matter, you always have to act in your own best interest. No one else is going to do it for you. If self destruction is your basic mindset, then what will keep you from trading out of frustration, or revenge, or just putting a trade in because you are bored? No judgement here! I’ve been there myself and I do think many others right along with me.
Well…back too me. What about MY lifestlye? My wife makes me eat healthy. That’s a good start. We have a pretty regular life when it comes to our sleep-wake cycle. We both tend to work a lot. But we also have 2 little children who make sure we can’t be focused on work constantly and in a setting like this, doing nice things with and for just the 2 of us, almost always takes a backseat – but we do try to find those moments.
As for my smoking… of course I knew I had to stop. I am a biomedicus – remember? I know more than many about the detrimental effects of smoking on your body. For many reasons – but most importantly for my trading – I had to prove to myself that I am capable of changing bad habits. During your first phase of learning in trading, chances are good you will develop some bad trading habits. Mostly they develop out of fear. You don’t want to loose out on another trade, or you don’t want to loose any more money, pressure is rising on making a solid income, and so on. These bad habits and your negative fearful mindset are the 2 most important things that hold you back from becoming a consistently successful trader. Believe me, or else read up on it.
Besides proving something to myself, I noticed that whenever my signal was setting up, I found myself craving for a cigarette and I went outside to smoke, walking away from my computer…. Of course not every single time, but I did that a lot. A nice little excuse for not being around when signals are present, therefore not being able to take them. And then coming back, being frustrated for missing it – DUH – and put in a stupid trade instead. You are, or at least I was, putting yourself up for disaster. And why? FEAR! Fear of losing, fear of losing out, but basically fear of not being able to trust yourself to act in your OWN best interest!
About half a year ago I decided that I had to make that change. I happen to know myself very well; I realized if I were to quit cold turkey, the attempt would last not even for a day. So I decided to make it a multiple step approach…:-) I switched to an e-cigarette. Still getting the nicotine, but a health gain of over 500%, losing out on all the toxic substances that come with smoking a cigarette. Instead of the 18 mg I normally used when smoking cigarettes, I started with 6 mg liquids. And this works and is still working, without problems. The first week it felt strange, but that was all. It felt strange – not craving for a cigarette, no need for finding other substitutes or being hungrier or any of the other nasty side effects usually tied to quitting. It was and is fine. My next step will be lowering the nicotine to 3 mg and after adjusting to that, I will take the final and next step to 0 mg.
That was my first real step to a healthier and self constructive lifestyle. And this is what I needed to get to another level of self awareness. No one, some people will try, but no one can take these steps for you. You have to want to it yourself, do it yourself. And you have to see how bad habits in general say something about you as a person. About your self perception, self appreciation, self evaluation, self esteem. And when all that falls into the right place it will result in a boost of self-confidence and you will start to act in your OWN best interest.
And please do believe me when I say: you need this attitude to be a successful trader. The opportunity to make money is there day in day out. Are you going to take action with CONFIDENCE that whatever decision you’ll take – buy, sell, stay out – you will ONLY take it in your OWN best interest, because you approach the market with a healthy, balanced and positive attitude, open for any information it is giving you?!
Taking little or big steps for yourself, gaining the positive and confident attitude will help you tremendously in your trading. And every day is a day where you can start making those changes!
If you have any questions, comments or you want to shoot a PM, please do so @ email@example.com.